The Los Angeles Times reports New York-based Narra Capital and Los Angeles-based GPI Co., Ltd. Construction has begun on Rosewood Residences Beverly Hills. 9900 Santa Monica Blvd.The project calls for the construction of a four-story building featuring 17 condominiums with over 12,000 square feet of ground floor commercial space and 148 parking spaces.
Named after operator Rosewood Hotels & Resorts, the property could sell for as high as $40 million. In his late 2021 plans approved by the Beverly Hills Planning Commission, the project could include a mix of his two-, three-, four- and five-bedroom residences. The Times reports that the largest unit will be about 7,300 square feet.
Current plans for 9900 Santa Monica have been curtailed since the project was first approved in 2020. The plan called for 25 small condominiums ranging from 1,124 to 4,044 square feet.
New York-based architect Thomas Jules Hansen designs Rosewood Residences. The building will provide direct elevator and stair access to each residence and will include a shared pool and fitness center.
The project will face competition from similar luxury condominium developments in Beverly Hills. New Mandarin Oriental branded hotel at 9200 Wilshire Blvd. When Over 350 homes planned in massive One Beverly Hills complex across the street.
GPI Cos., a local developer who has entitled the site, has built a luxury apartment complex about two miles east. 9001 Santa Monica Blvd in West Hollywoodwill be developed. High-rise apartments on former site of Hollywood’s Amoeba Music.